Annual earnings are put at $117 million (on an EBITDA basis), and the venture's internal rate of return is put at 40%.

IperionX said the base case financial metrics are "based upon pricing forecasts from leading industry consultancies in rare earths and heavy mineral sand products".

IperionX suggested financing shouldn't be too difficult.

"The Titan project's NPV to capex ratio, an economic benchmark which highlights the potential value generated by the initial development capital investment, is at the top end of the range of comparable north American critical mineral projects," it said.

"This metric is often seen as a measure of the ‘fundability' of a mineral resource project, and highlights the attractiveness of the Titan project when compared to its north American peers."

Titan has "a high in-situ value underpinned by a product assemblage of high value zircon, titanium minerals and heavy and light rare earth elements".

The company, which as of this month was trading on NASDAQ, also noted "the shallow, high-grade and unconsolidated nature of the sandy mineralisation enables the potential for simple mining operations such as dozer push followed by an industry standard mineral processing flowsheet".

Average annual production of 4650t of rare earth concentrate, 16,700t of rutile, 95,500t of ilmenite, 22,400t of premium zircon and 16,100t of zircon concentrate is being promoted.

Formerly known as Tao Commodities, IperionX also has a titanium metal powder business in Salt Lake City.

Backers of the company include principals of boutique Perth investment firm GTT Ventures.

IperionX had $11.3 million cash at the start of the June quarter.

Shares in IperionX were down 2% to A79.5c in early trade, capitalising the company at $112 million.